INDstocks SIP Terms & Conditions

These terms and conditions govern the SIP in Indian Stocks and ETFs offered by INDmoney Private Limited (“Company”), a company incorporated under the Companies Act 2013 with its registered office at 616, 6th Floor, Suncity Success Tower, Golf Course Extension Road, Sector - 65 Gurugram, Haryana- 122005 India which offers its services & product through its website and mobile application (“INDmoney Platform”) under the name and style of INDmoney (“INDmoney”).

These INDstocks SIP Terms & Conditions (‘T&Cs’) shall be read along-with but not limited to INDmoney Platform Terms and Conditions and Privacy Policy, Policies & Procedures, Account Opening Form(s), Undertaking(s), Tariffs, Authorization(s) etc. governing Customer use of INDstocks Demat and Trading account (‘Account’) maintained with the Company and shall form a legally binding agreement between Customer ('Customer’) and Company for availing the SIP in Indian Stocks and ETFs.

Please read the terms and conditions as contained herein-below carefully and thoroughly, prior to proceeding further with setting-up of SIP in Indian Stocks & ETFs (‘Securities / Security’). By proceeding ahead, Customer hereby agree and accept to be bound by these T&Cs.

Customer may opt for SIP in Indian Stocks and ETFs either by opting for INDstocks SIP or Mini Save SIP by INDstocks ('Mini Save’) (collectively referred as ‘SIP / Services’).

PART A: INDstocks SIP

INDstocks SIP Service: shall mean the INDstocks SIP service as made available by Company through INDmoney Platform whereby Customer authorizes Company to place buy transactions for such Security(ies), at such intervals / frequency as specified by Customer, while setting up of SIP in Security(ies).

Buy trade will be executed on Customer’s behalf in Customer’s Account to purchase the opted Security(ies) at a predetermined quantity and intervals as consented by Customer while setting up of SIP instructions on INDmoney Platform.
Customer shall have the option to select preferred Security(ies) on which Customer intends to automate buy trade by use of INDstocks SIP Service. Customer can set-up multiple SIPs simultaneously, for different Securities. However, for each SIP an independent and exclusive auto pay mandate needs to be authorized. Customer will not be allowed to club or make a bouquet of multiple Securities.
Upon selection of Security by Customer, Customer would be offered an option to select the quantity(ies) that Customer desires to trade against Customer opted Security, SIP frequency (i.e., daily, weekly, monthly), Exchange (i.e., NSE or BSE) on which Customer desire to place the buy trade order on a recurring basis. Customer will be shown an approx. SIP Rupee amount range, however, such SIP Rupee amount range is displayed solely for Customer reference purpose. Customer understand and acknowledge that, Company has no control on the market value of chosen Security or indication / assurance that opted Security price will remain within the SIP Rupee amount range.
SIP Rupee amount range is merely an information to enable Customer to understand an indicative amount of investment funds required to place a buy trade and shall not be construed as price speculation of security by the Company. By displaying the SIP Rupee amount range, Company makes no representation, guarantee or assurance of any kind whatsoever on the price of selected Security. The SIP Rupee amount range is merely indicative in nature and for Customer information purpose only. The said information shall not be and cannot under any circumstance be considered as a price guarantee or assurance of successful trade by or on behalf of the Company.
The time for placement of SIP order on the Exchange platform on each frequency day shall be at 10:00 AM on the trading day. In event, if the autopay is processed post 10:00AM, then, such SIP order shall be placed for execution on the next trading day on the Exchange.
Customer agrees to unconditionally set-up an auto-pay mandate on Customer’s verified savings bank account, to ensure that the Account is funded for execution of SIP order(s). Based on the auto-pay mandate set-up by Customer, the amount will be debited from Customer’s savings bank account and transferred to the Account for the purpose of placing Customer SIP buy order on Exchange. Company will use the auto-pay amount for executing SIP buy order, however, due to market volatility the actual trade amount may be higher than the auto pay amount received. In such scenarios Customer hereby grants unconditional authority to Company to utilize existing funds available in Customer Account to utilize in placing the SIP buy order. In event, if the auto-pay amount received is higher than the amount required for trade, then the excess amount will be available in the Account which Customer may utilize or withdraw at its discretion. It is recommended to set-up an auto pay of sufficient amount, to ensure that SIPs are executed in swift manner and to avoid failure due to change in Security price.
Company shall not be required to obtain re-approval / fresh approval for placing orders on respective due dates / due days as per the interval approved by Customer under SIP instructions. In case Customer desires to discontinue / modify / amend the SIP, it is Customer responsibility and obligation to stop / cancel the SIP for applicable security.
The authorization given to the Company shall rescind in case applicable SIP Instruction is cancelled by Customer. Company will not place further order on such SIP. For avoidance of doubt, it is clarified that, each SIP shall be treated as independent and unique authorization. Cancellation of one SIP does not qualify or amount to suspension of all SIPs or group of SIPs.
The SIP amount may be significantly different from its previous order, thus resulting in change of amount debited from Customer savings bank account. Customer understand and agree that, mere successful processing of mandate / auto pay, does guarantee / shall not be taken as an assurance of trade confirmation by Company.

Part B: Mini Save

Mini Save is a SIP feature that enables Customer(s) to save a fixed amount on a daily, as opted by Customer (‘Mini Save SIP’).
To participate in Mini Save, Customer must have an active savings account with Federal Bank ('Bank’) on INDmoney Platform ('Saving Account’).
The Customer is required to select the desired Security and provide consent for automated buy trades in the chosen Security. A separate and independent Mini Save pot will be created under customer’s Savings Account for each selected Security. Customer can set-up multiple Mini Save for different Securities.
Customer is not allowed to club or make a bouquet of multiple Securities, nor Customer can switch the selected Security. In case, Customer intends to change the selected Security, Customer must set-up a new Mini Save pot. The Customer may choose to continue with previously consented Mini Save or cancel at its discretion.
Currently, Customer have the option to choose from four Mini Save amounts: Rs. 25, Rs. 50, Rs. 100 and Rs. 500 ('Mini Save Amount’). Customer can select any convenient Mini Save Amount that Customer wish to save daily towards its preferred Security.
Upon consenting to Mini Save Amount, Customer will be requested to confirm the SIP order including approximate SIP Amount, SIP Quantity, and Frequency. Customer must select their preferred Exchange for placing buy trade. The information displayed under SIP Order should not be considered as a price guarantee or assurance of a successful trade by or on behalf of the company.
The SIP Amount represents an approximate value of selected Security for placing buy trade. The SIP Amount amount serves as information to help Customer understand the indicative amount of investment funds required to place a buy trade. It should not be construed as price speculation of the Security by the Company. By displaying the SIP Amount, the company does not make any representation, guarantee, or assurance of any kind regarding the price of the selected Security. The SIP Amount is purely indicative and for informational purposes only. Changes in the market price of Security shall have an impact on SIP Amount and on the frequency of Customer investment. SIP Quantity means the approximate quantity of Security to be purchased through SIP Order. Frequency represents a tentative timeline within which Customer is expected to accumulate sufficient funds to execute the buy trade. It is clarified, Frequency is variable and may be subject to change due to various factors including market price of Security, availability of funds in the relevant Mini Save pot etc. Company does not offer any guarantee or assurance that the Mini Save SIP transaction will be executed at the displayed SIP Amount or within the specified Frequency.
Customer shall be required to set-up standing instructions on Savings Account to debit the Mini Save pot and remit to Customer Account, in order to execute the SIP buy order. The criteria of debit the Mini Save will be, previous day closing price of Security plus 10%.
The time for placement of Mini Save order on the Exchange platform shall be at 10:00 AM on the trading day. In event, if the funds are received post 10:00AM, then, such SIP order shall be placed for execution on the next trading day on the Exchange.
In event, if the Mini Save funds received is higher than the amount required for trade, then the excess amount (as the case may be) will be available in Customer Account which Customer may utilize or withdraw at Customer discretion.
For purchase of security under Mini Save SIP, the Company shall only utilize funds received from Mini Save pot. It is clarified that, existing funds in the Account shall not be utilized, under any circumstance to execute Mini Save SIP order. Further, if at the time of placing the buy order, Customer has insufficient or deficit funds in the Account, in such scenario Mini Save shall not be processed. Therefore, if the amount received from Mini Save pot is less than the market price of Security, the trade shall not be successful and such funds shall be made available in Customer Account, which Customer may utilize or withdraw at Customer discretion.
Company shall not be required to obtain re-approval / fresh approval for placing orders under Customer Mini Save SIP instructions. In event of change in SIP Amount, the Company shall revise the Frequency of investments automatically. In case Customer desires to discontinue / modify / amend the Mini Save SIP instruction, it is solely Customer’s obligation to stop / cancel Customer Mini Save SIP for applicable Security. Company shall not be liable or responsible, in any manner whatsoever, for any and all losses (actual or anticipated) that may be suffered by Customer due to non-execution of trade, change in market price of Security, change of SIP Amount, change in Frequency of investment etc.

Part C: General Conditions

SIP order placed which remains unexecuted at the market price till the end of the day would expire and Company shall not held responsible for non-execution of such orders. For clarity, expiry of SIP order will not impact placement of subsequent SIP orders.
The SIP amount may be significantly different from its previous order, thus resulting in change of frequency and SIP Amount to be debited from Customer savings bank account. Customer further understand and agree that, mere successful processing of standing instruction, does guarantee / shall not be taken as an assurance of trade confirmation by Company.
Modification of existing SIP is not permissible. In event Customer intend to modify or amend Customer existing SIP, Customer shall be required to stop Customer existing SIP and create a fresh SIP request along-with auto pay mandate / standing instruction for corresponding SIP.
The authorization given to the Company will stand rescind, in case such SIP Instruction is cancelled by Customer and Company will not place further order on such SIP. For avoidance of doubt, it is clarified that, each SIP shall be treated as independent and unique authorization. Cancellation of one SIP does not qualify or amount to suspension of all other SIPs.
Customer shall be required to opt for securities from the list of securities and the Exchanges displayed on the INDmoney Platform under the banner of INDstocks. All securities may not necessarily be available under this Service. Company has the discretion to decide on the list of securities to made eligible for purchase under this Service. Company may in its discretion decide to add or disable or withdraw a particular security to/from the eligible list with or without providing notice and without assigning any reasons thereof. If Customer selected security is not available for trade (temporarily or permanently), Customer SIP against said security shall automatically stand suspended, however, this does not have any impact on Customer existing investment or funds available in Customer Account.
Customer understand that SIP will be placed on market order, which will be executed as per order matching mechanism of the Exchange, subject to Customer having sufficient free trading balance in Customer Account. There may be a possibility that the orders are executed partially or may even remain unexecuted. Customer further understand that Customer or other clients may be able to get the same security at different rates.
If Customer Account is deactivated or suspended or terminated or closed due to any reason, then the SIP orders will also get automatically stopped. Customer shall be required to re-set up Customer SIP instructions, upon resumption of Customer Account with the Company.
Customer shall be solely and exclusively responsible towards payments of any and all taxes, tariffs, fees, commissions or such charges as may arise or become applicable as a result of Customer availing the Services including banking charges that Customer banker may levy including but not limited to charges for creating auto pay mandate, penalties due to insufficient fund.
Company is merely acting as a facilitator for placing orders as per the SIP instructions given Customer under the Service. The execution of buy trades happens on the Exchange platform and depends upon the order matching mechanism of the exchange. There may be a possibility that orders may be executed partially or may even remain unexecuted.
By offering the Service, Company is not offering or deemed to have offered any portfolio management arrangement or otherwise. Any stock suggestions offered by Company shall not be considered as an investment advice in any manner whatsoever. Customer should take independent professional advice before deciding the stocks for trade / investment under this Service. Customer understand that INVESTMENT IN SECURITIES IS SUBJECT TO MARKET RISK, PLEASE READ ALL RELATED DOCUMENTS CAREFULLY BEFORE INVESTING.
Company shall not be responsible or deemed to be responsible for non-execution / rejection of SIP. Customer understand that no partial orders will be executed in case of insufficient funds.
Company reserves right, at its sole discretion, to either temporarily or permanently, withdraw or suspend the Service to Customer without giving any notice or assigning any reason for the same.
Company, in its sole discretion, in accordance with its risk management policy, may prohibit buy option in certain securities. Further, certain securities may not be allowed for trading on Exchanges on account of corporate action such as stock split, issue of bonus shares, merger etc. Due to aforesaid, if the security is not allowed for trading, then the SIP order in such securities may not be placed or get rejected for intervening period when such securities are disallowed. Subsequently, SIP order for the said securities will be placed by Company only when such securities are allowed for trading. Further Company may, at its sole discretion, cancel the SIP with regard to such securities, which is disallowed for an uncertain and/or long period for the reasons mentioned herein above.
COMPANY SHALL NOT BE HELD RESPONSIBLE AND / OR LIABLE FOR ANY LOSSES, DAMAGES, CLAIMS, PENALTIES, ERRORS, DEFECTS, DELAYS, OMISSIONS, COMPLIANCE WITH DESCRIPTION, COMPENSATIONS, TRADING LOSS(ES), OPPORTUNITY LOSS(ES), SPECIFIC QUALITY OF ANY SERVICES, OR FACILITIES, ANY INTERRUPTION OR CESSATION OF TRANSMISSION OF SERVICES, MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF SERVICES, AND NON-INFRINGEMENT OF THIRD PARTY RIGHTS ARISING DUE TO OR IN RELATION TO NON-PLACEMENT OR REJECTION OF ORDERS OR DUE TO PROVISION OF THESE SERVICES.
Customer acknowledge, understand and agree that there may be a possibility of communication failure or system problems or slow or delayed response from system or trading halt, or any such other problem/ glitch whereby not being able to establish access to the trading system / network, which may be beyond Company’s control and may result in delay in processing or not processing Customer SIP order(s).
The Rules & Regulations as prescribed by the exchange will be applicable to Customer trades.
The Service is provided to Customer on an "As is" and "Where-is" basis, without any warranty. Company, for itself and any third-party providing materials, services, or content to this facility makes no representations or warranties, either express, implied, statutory or otherwise of merchantability, fitness for a particular purpose, or non-infringement of third-party rights, with respect to the website, the information or any products or services to which the information refers.
Company will not be liable to Customer or any third party for any damages of any kind, including but not limited to, direct, indirect, incidental, consequential or punitive damages, arising from or connected with the Service, including but not limited to, Customer use of this Service or Customer inability to use the Service, even if Company has previously been advised of the possibility of such damages.
Company makes no representations or warranties regarding the accuracy, completeness or reliability of any information provided. Company assumes no responsibility for errors or omissions in the Services. Customer must conduct Customer own research before acting on any information received through INDmoney Platform. Company shall not be responsible or liable for any losses, costs, expenses, charges, including notional losses/lost opportunities incurred by a Customer as a result of acting or non-acting on any information/material received through the service.
Past performance may not be an indicator of future returns. These terms are subject to change without prior notice. By subscribing to the Service, Customer agree to these terms and amendments thereto. The Service may be withdrawn or discontinued without prior notice. All investments and investment related decisions are at the sole discretion of the Customer.
Without prejudice to any other provisions of these T&Cs, Company shall not be liable to Customer for any loss or damage whatsoever or howsoever caused arising directly or indirectly whether for consequential loss or damage or loss of profit, business, revenue, goodwill or anticipated savings which may arise in respect of the Service or arising out of the performance of the Services or otherwise.
These T&Cs shall be governed, interpreted, and construed in accordance with the laws of India, without regard to the conflict of law provisions and for resolution of any dispute arising out of Customer use of the Services or in relation to these T&Cs. Notwithstanding the foregoing, Customer agree that (i) Company has the right to bring any proceedings before any court/forum of competent jurisdiction and Customer irrevocably submit to the jurisdiction of such courts or forum; and (ii) any proceeding brought by Customer shall be exclusively before the courts in New Delhi, India.
Company reserves the right to amend / modify / alter the aforesaid T&Cs and such amendment /modification / alteration be displayed on INDmoney Platform. Customer continued use of the Service shall be deemed to be Customer continued acceptance to the amended/ modified/altered T&Cs.

Mandate conditions:

Customer understand and acknowledge that the mandate limits may differ with each bank, and basis the type of account held by Customer in such bank, and Company holds no authority or discretion to the said effect.
In case, Customer do not have sufficient funds in Customer savings bank account to meet the auto pay requirements, please make sure to delete such standing instruction prior to the scheduled date of debit, to avoid any penalty and charges, or any legal or procedural consequences as per applicable laws (including NPCI & RBI guidelines).
The auto-pay mandate is an auto debit authorization from Customer to Company, to debit funds from Customer savings bank account as linked to Customer Account. By consenting to create auto pay on Customer savings bank account, Customer hereby assure, declares, undertakes and guaranty that the savings bank account is Customer independent account only and Customer hold complete right, authority and legal entitlement to create such recurring mandate on the said bank account. Company shall not be held liable nor be made party of any legal proceedings, with respect to transactions done in Customer bank account or otherwise with respect to ownership of Customer savings bank account.
Customer understand and are aware that bank may reject any auto-pay request based on their own validations and internal procedures or the auto pay may not be processed due to technical failure, to which Company holds no control, authority or discretion.
Company shall not be liable or be under any legal obligation to communicate or for any consequential, direct, indirect claims or complaints with respect to such rejections.
For creation of mandate, it is mandatory that Customer savings bank account is verified / linked Account. It further depends, if Customer bank allows / offer the facility of auto pay creation (either by UPI or eNACH mandate), if Customer bank does not offer / permit the facility of auto-debit / auto-pay, Customer could reach out to Customer bank support team for seeking clarification or Customer must first verify Customer alternate bank account.
This mandate is registered at Customer bank’s end, therefore any requirement of funds during this period should be taken care of by Customer manually at Customer end.
The process of cancelling mandate may differ from bank to bank, therefore Customer would be required to contact Customer bank’s support team. For clarity, in case Customer desire to cancel the request with respect to Customer scheduled payments or standing instructions, Customer should raise such request atleast 2 Working Days prior to initiation of transaction (i.e., T-2 days) or as per timelines mandated by Customer banker.
It shall be Customer sole and absolute responsibility to ensure that all Customer personal details including but not limited to mobile number, email address and residential address is true, correct, complete, accurate and valid at all times.
Customer agree to these terms and conditions, usage and registration of the auto-pay mandate by using Customer banking credentials is purely voluntarily and Customer independent decision. By availing the Facility, Company has not made any inducement, or recommendation to Customer to trade in any specific security.